Exam DISC-IA Practice Question 25
Study guide: Exam DISC-IA
An insurer buys per-occurrence excess of loss reinsurance of $1,000,000 excess of $500,000 from an authorized reinsurer. At year end it has three open claims, none yet paid, with incurred losses of $450,000, $900,000 and $1,800,000. Under SSAP No. 62R, how much reinsurance recoverable on unpaid losses does it net against its loss reserves?
- A) $400,000
- B) $1,000,000
- C) $1,300,000
- D) $1,400,000
Answer this question and see the worked solution